Nippon Life Global Investors Americas Inc. Makes New $10.21 Million Investment in Ionis Pharmaceuticals, Inc. $IONS

Nippon Life Global Investors Americas Inc. purchased a new position in shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 228,630 shares of the company’s stock, valued at approximately $10,208,000. Nippon Life Global Investors Americas Inc. owned 0.14% of Ionis Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the third quarter worth about $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ionis Pharmaceuticals in the first quarter worth about $30,000. Root Financial Partners LLC bought a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $30,000. Fortitude Family Office LLC raised its position in shares of Ionis Pharmaceuticals by 4,411.8% in the third quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $41,000. Institutional investors own 93.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James Financial set a $79.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, October 20th. Royal Bank Of Canada dropped their target price on Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Jefferies Financial Group cut their price target on Ionis Pharmaceuticals from $113.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Citigroup reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 21st. Finally, Canaccord Genuity Group decreased their price objective on Ionis Pharmaceuticals from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, September 8th. Nineteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the transaction, the executive vice president directly owned 17,811 shares of the company’s stock, valued at $775,490.94. This trade represents a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is owned by corporate insiders.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $43.52 on Monday. The firm has a 50 day moving average of $49.02 and a 200-day moving average of $66.82. The firm has a market capitalization of $7.23 billion, a P/E ratio of -12.58 and a beta of 0.43. Ionis Pharmaceuticals, Inc. has a 12 month low of $42.08 and a 12 month high of $86.74. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07.

Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.